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Inside Washington (05/29/2008)

* WASHINGTON (5/30/08)--It’s important to foster relationships with government-insured depository institutions with the means to provide the underserved with the opportunity to save, borrow, invest and build solid credit files, National Credit Union Administration (NCUA) Vice Chairman Rodney Hood said at a general forum this week. The forum was organized by the Boston and Worcester Alliances for Economic Inclusion (AEI) at Brandeis University. Hood applauded Dan Egan, president of the Massachusetts Credit Union League, and Ann Clancy, league senior vice president and general counsel, for their attendance and participation with AEI. Hood discussed the danger of predatory lending and said credit unions are working to combat the problem. He also emphasized the NCUA’s Office of Small Credit Union Initiatives, which offers assistance through community development initiatives, grants and loans at 1% interest, student internships and volunteer income tax assistance. Hood recognized the partnerships credit unions are creating with Operation Hope, the Federal Home Loan Banks, the Department of Housing and Urban Development, the Department of Treasury’s Community Development Financial Institutions fund and the Internal Revenue Service ...